Mar 26, 2015

 

Human Resources

VALIC REPRESENTATIVE TO BE ON CAMPUS WEEKLY
A VALIC representative will be on campus from 9 a.m. to 1:30 p.m. each Wednesday in the Sullivan Room, MLK Jr. Union. If you wish to make an appointment, please call 217-821-5289 or visit the Sullivan Room any Wednesday through April 29.

VALIC is one of EIU's approved vendors for the 403b plan. A 403b is a voluntary tax-deferred supplemental retirement plan developed to enhance an employee's retirement. VALIC is just one of the approved vendors offered by EIU.

For more information about EIU's 403b plans, please visit here.

THURMAN ETCHISON, Benefits Services
Posted: Mar 19, 2015


SURS SELF-MANAGED PLAN PRE-RETIREMENT SEMINARS
SURS will present two "Self-Managed Plan Pre-Retirement Seminars" this spring. These seminars are for members both active and inactive who are two to three years away from retirement.

Seminar Dates:
April 8, 2015, at SURS Champaign office
April 15, 2015, at SURS Naperville office

The seminars will be held from approximately 9:30 a.m. to 4:30 p.m. The enrollment fee is $20 per member and $10 for a non-member guest. Lunch will be provided. Registration is required. To register, call 800-275-7877.

If fewer than 20 people register, the seminar will be canceled. Those registering will be notified.

AMANDA ZUCCO, Benefits Services
Posted: Mar 15, 2015


SURS INFORMATIONAL SEMINARS/WEBINARS
SURS is currently offering numerous seminars and webinars for individuals in all stages on the path to retirement. The sessions include information for Tier 1 and Tier 2 members, Self-Managed Plan members, and post-retirement individuals. View all available sessions and register today.

THURMAN ETCHISON, Benefit Services
Posted: Mar 13, 2015


SURS TO MAKE CHANGES TO MONEY PURCHASE FACTORS EFFECTIVE JAN. 4, 2016
The SURS Board of Trustees recently set the effective date for changes to the Money Purchase factors as Jan. 4, 2016. The changes to the factors are a result of a recent actuarial experience study which recommended a reduction of the assumed rate of investment return and updated mortality tables to reflect an overall increased life expectancy. For members retiring on or after Jan. 4, 2016, under the Money Purchase formula, the change in Money Purchase factors will result in an average six to seven percent downward adjustment in their monthly annuity. Members can offset the adjustment by delaying retirement by approximately nine months for active participants and 11 months for inactive participants.

Retirement calculations are unique to each individual member. For this reason, SURS encourages all members who are considering retirement in the next year and who might be affected by the Money Purchase factor changes to log on to their personal account on the SURS Member Website and utilize the benefit estimator. By calculating estimates for retirement dates before and after the Jan. 4, 2016, effective date, members can gain a clearer picture of how the factor changes will impact benefits.

LINDA C. HOLLOWAY, Benefits Services
Posted: Mar 13, 2015


DEFERRED COMPENSATION PLAN CHANGES
The Illinois State Board of Investment is making several investment enhancements to the Deferred Compensation Plan in the coming months. Click each link below to learn more about the investment changes and plan-wide re-enrollment.

Plan Enhancements Coming Letter

Investment Changes and Re-Enrollment Brochure

THURMAN ETCHISON, Benefit Services
Posted: Mar 13, 2015


ELECTRICAL OUTAGES
It has come to my attention that there is some confusion on how to report time during periods of electrical outages. Employees are expected to be at work when scheduled, even during outages, unless they have supervisory approval for using accrued leave, sick leave or comp time (for those who have comp time). If you work during an outage, you must record the actual time worked. If you use leave during an outage, then the appropriate leave event should be recorded. In all cases, all time reporting should be accurately recorded in web-time entry.

Employees unable to work in their assigned area due to decreased visibility should move to another area to accomplish their work until the outage is resolved. Normally, outages may last only a few hours. However, if you are unable to work, the appropriate use of leave should first be approved by your supervisor and then recorded accurately in web-time entry. If you have any questions, you may contact Human Resources at 217-581-3514 for further clarification.

RICHARD ENYARD, Director, Human Resources
Posted: Mar 05, 2015


TIAA-CREF REPRESENTATIVE ON CAMPUS
TIAA-CREF representative Chris Stephens will be on campus Feb. 26, March 26 and April 23 in the Sullivan Room, MLK Jr. Union. TIAA-CREF is an EIU-approved tax shelter annuity provider who can assist employees with financial and retirement planning. To schedule an appointment, call 800-732-8353.

AMANDA ZUCCO, Benefits Services
Posted: Feb 01, 2015





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